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How to become a CHFA Lender
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CHFA is a self-sustaining public enterprise with a mission to finance the places where people live and work in Colorado.
In order for a lender to become an authorized Participating Lender, the lender must first complete a Participating Lender Application, be approved by the Authority to participate in some or all of CHFA’s Programs, and have entered into a Mortgage Purchase Agreement with the Authority.
CHFA requires its Participating Lenders to:- Originate loans from an office physically located in Colorado.
- Perform credit underwriting on all loans.
- Ensure that all staff (and any third party contractors) be knowledgeable about the various aspects of mortgage loan origination, mortgage loan sales, and mortgage loan servicing, as is applicable to their position within the lender organization.
- Use sound business judgment in all aspects of its operations.
- Demonstrate a commitment to providing sound financing options to low and moderate income homebuyers in Colorado.
- Protect the homebuyers from fraud, misrepresentation, and/or negligence by and of its staff or third party contractors involved in the origination process.
- Have written business practices and procedures that are designed to avoid predatory lending practices, regardless of whether or not the Participating Lender utilizes an automated underwriting system, underwriting staff, or private mortgage insurance contract underwriters to perform credit underwriting functions.
- Maintain minimum production requirements.
- Have the financial ability to fund loans at closing.
Please complete the Participating Lender Application Checklist and email it to Norma Andersen or fax it to her at 303.297.0947.
For more specific information on lender requirements, see the Seller’s Guide, Chapter 1: Lender Participation.
Visit Lender FAQs
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| Western Slope Office - 1.800.877.8450 |
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